The most asked question in the Crypto world will find an answer with this law: SEC's bad news

In the United States, especially during Gary Gensler's tenure as the chairman of SEC, the crypto world, which has faced many problems, will now start to resolve issues more openly. Two U.S. senators have outlined the main points of a bill that clearly defines under what conditions cryptocurrencies will be regulated by the SEC and which ones will be overseen by the CFTC. The bill shifts many regulatory responsibilities to the CFTC instead of the SEC.
The cryptocurrency world, which is experiencing a kind of second spring under the Donald Trump administration, is also taking important steps in terms of regulations. A bill is being prepared, led by two US senators, Tim Scott and Cynthia Lummis... The Digital Assets Subcommittee, affiliated with the Senate Banking Committee, will also hold a meeting tonight at 22:00 GMT+3 regarding this new bill proposal.

Security or commodity?
Wyoming senator Cynthia Lummis, one of the creators of the GENIUS Act stablecoin bill, along with being a senator from South Carolina and the Chairman of the Senate Banking Committee, provided information on the main points of the bill.

The bill will clarify when cryptocurrencies will be considered as commodities or securities. In addition, cryptocurrency exchanges will be allowed to register with the U.S. Commodity Futures Trading Commission (CFTC) (CFTC). This will reduce the Securities and Exchange Commission's (SEC) (SEC) oversight in this area. As it is known, especially during Gary Gensler's tenure, the SEC had caused major difficulties for cryptocurrency companies.

From SEC to CFTC...
Several platforms, from Binance to Coinbase, Robinhood to Kraken, faced lawsuits over unregistered securities offerings. With Trump becoming president and the government shifting to the Republicans, all these lawsuits were dropped one by one. In fact, all these events also indicate a power transfer. The regulatory power will now shift a bit more towards the CFTC.

Senators also noted that the bill will include measures to combat illegal activities such as money laundering and circumventing sanctions.

"Politics should be left out of this matter"
Senate Banking Committee Chairman and one of the architects of the bill, Tim Scott, said, "These rules will provide an important framework for negotiations. I hope that my fellow senators will set aside politics and finally start to provide the clarity long awaited in digital asset regulation."

Scott and Lummis are also aiming to pass a more comprehensive "market structure" regulation through Congress before the end of the year.
#Crypto Market Rebound# #Bitcoin Reserve Bill#